The unsung hero of MAT growth: Finding a finance system that’s fit for the future

A stable, reliable and consistent finance system that staff know and understand is the backbone of financial planning and management. With familiarity comes confidence and efficiency, speeding up processes and fostering collaboration between leaders, schools and central MAT teams. 

For leaders, consistent digital processes reduce the risk of human error, increasing accuracy and reliability. And for finance teams, there is real potential to get time back in the day to focus on strategy instead of firefighting. For leaders and their teams, then, consistency is key when growth is on the cards. 

Growth can put pressure on people, and teams will need the support of reliable, familiar systems during times of change. People and their experiences really matter: The Schools and Academies Show highlights the importance of onboarding and engaging people effectively as a core part of the finance function.

While an aesthetically pleasing finance dashboard within a shiny new platform may be a nice to have, the ultimate goal is reliability at scale, helping to obtain buy-in and bringing people along on the journey. 

Gartner investigated how technology outcomes could be improved, and staff acceptance was key. When users are accepting of the technology they have available, they use it more effectively and make fewer errors. To support this, Gartner concluded that it’s better to have less technology with a workforce that accepts it than to have cutting edge technology and resistant employees.

Technology acceptance has four measurable drivers: ease of use, ease of learning, ease of customisation and ability to see all information in one view. When systems change too frequently, ease of use and ease of customisation in particular are compromised, undermining potential benefits to productivity.

Is your finance system holding you back?

If your current system isn’t supporting your MAT in the way you need, it may be time to find a new long-term solution. Consistency has many benefits, but you do need the right system first. These are some signs that it may be time to make the move:

1. Limited functionality. If you regularly use spreadsheets or external software in addition to your finance package, data can be compromised and switching between platforms will slow you down significantly.  
2. A lack of automation. Finance software can and should make budgeting, payroll, reporting, payments, accounting and more easier and simpler to manage. If these processes still require major manual input, this needs to change.
3. Workarounds. Systems need to be intuitive and logical so staff across a MAT can use them with confidence. If manual workarounds are needed to make them function, this isn’t acceptable, especially when training new staff.  
4. Limited reporting. When finance systems can’t provide the insights you need or reporting is a manual process, there will be a better way. 

What should MATs look for in a long-term finance system?

If it’s time to find a new finance system to support long-term growth, look for these features:

• Cloud-based integration. Systems need to be deployed at scale across the trust. The cloud will enable interconnectivity and flexible use, supporting existing schools and any that join the trust in future.
• Compliance built in. Look for systems that can support Department for Education (DfE) compliance and automate processes.
• Real-time insights. Reporting should be simple, automated and based on live data, giving deep insights or a birds’-eye view of the trust.
• AI functionality. Nearly all surveyed CFOs believe that generative AI has the ability to create value, helping finance employees perform less manual analysis and providing leadership and strategy support.

A system designed specifically for the education sector will offer tailored features that are more likely to hit the mark — in addition, the customer support will be geared up to meet the needs of schools and MATs. 

Delta Academies Trust has experienced remarkable growth, now managing a network of 57 academies. The trust has continued to use the same budgeting software throughout its transformation, and Senior Finance Manager David Pitchfork emphasised how vital this consistency has been for its operations.  

Using Access Central Budgets on an ongoing basis has helped to save time and reduce manual work for finance teams, improving processes across the trust. The software has been described as the steady heartbeat of financial planning, and the finance team has benefitted from product enhancements — such as migration to the cloud — that have rolled out over time. 

"It’s really easy to use — anyone can get the hang of it, even if they don’t have a financial background,” David Pitchfork said. He also highlighted the budgeting system’s role in streamlining financial forecasting, and its use during decision-making. All in all, the software has seen the trust through many years of major changes, saving teams time and enhancing collaboration to offer stability through uncertainty. 

Finding the right finance system to be part of your growth engine

Frequently switching to new systems comes with the promise of better features, but it often results in added complexity, requiring staff to relearn their roles which can cause morale and confidence to dip. Find your single system for the future: Access Education Finance can support your MAT long term. Once you’re onboarded, there will be no need to switch again.